Budgets are important. Time, money and other resources are finite so the absence of an accountability method can lead to a very quick draining of those resources. In the age of technology, mobile apps have made it easier. For my COS trip, I was looking for an app that could handle budgeting and expense tracking using multiple currencies.
After some internet searches, I came across Toshl. It can track income and expenses while handling budgeting tasks. The app allows you to set a home currency, while entering expenses (or income) in other currencies. It will automatically show conversions to the home currency at the last updated rate. For example, I can set my home currency to the US dollar and enter Kenyan expenses in Kenyan shillings after entering Swazi expenses in Swazi emalangeni. In my expense tracker, the expenses will show in their respective currencies with the day’s exchange rate for US dollars. The app has premium, paid features that I have not explored. One such feature is the ability to connect bank accounts for automatic syncing.
Overall, the app has been just what I needed. It has allowed me to keep track of my spending during trip. It even reminds me, via mobile notifications, to ensure that I input all of my expenses. Recently, I even got a notification that I’m on track to be slightly under budget (for my trip). I would recommend it if you’re planning on traveling abroad or dealing in currencies outside your home currency.
Be kind to yourself.